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Chilean senate approves controversial fishing law  SANTIAGO: Chile's senate approved a proposed new fisheries law Thursday amid opposition criticism that it would award fishing concessions to just a few families.   Aside from regulating fishing licenses, the controversial measure also would set new fishing quotas and requires the use of Global Positioning Systems (GPS) on boats.   In the run-up to the vote, hundreds of demonstrators marched in Santiago in opposition to the law.   With more than 4,000 kilometers of coastline (2,485 miles), the South American country is a leading producer of fish.   Opposition politicians have threatened to take the legislation to the country's constitutional court on the grounds that it violates the principle of equality before the law.   "With this fisheries law, we have lost a historic opportunity to create a law that benefits the entire country and not just a few," said Isabel Allende, a socialist senator.   The measure now goes to the House of Representatives.   Copyright AFP (Agence France-Presse), 2012 ...

Black murders on the rise in Brazil: study  BRASILIA: Twice as many blacks as whites were murdered between 2002 and 2010 in Brazil, where Afro-Brazilians make up 52 percent of the population, said a government-backed study released Thursday.   The 2012 Map of Violence found that the white murder rate fell 25.5 percent during that period while murders involving blacks soared nearly 30 percent, with 272,422 people of African descent killed.   In 2010, the murder rate for blacks reached 36 per 100,000 inhabitants while that for ...
Venezuela CARACAS: Venezuelan President Hugo Chavez is doing well as he receives medical treatment in Cuba, Vice President Nicolas Maduro said on Thursday, despite a two-week absence from public view that has raised fresh doubts about his health.   Chavez, 58, said in a letter to parliament on Tuesday he was returning to Havana for "hyperbaric oxygenation," which is used to treat bone decay caused by radiation therapy. The president has undergone three cancer operations in Cuba since ...
Brazil cuts return target for pension funds as rates decline  SAO PAULO: The Brazilian government cut the target rate of return for pension funds for the coming six years on Thursday in a move long awaited by money managers following a fall in borrowing costs to record lows.   Industry watchdog National Pension Council, known as CNPC, will lower the so-called actuarial target rate of return for state- and private-sector-run funds by 0.25 percentage point per year between 2013 and 2018. Currently, funds have to post a ...
More than 100 arrested in Sao Paulo crackdown  SAO PAULO: Police said Thursday they arrested 107 people in a month-long anti-crime crackdown in Brazil's most populous city focused on the notorious slum of Paraisopolis.   Sao Paulo state Governor Geraldo Alckmin and his new security chiefs on Thursday toured the slum, where more than 500 state military police were deployed in an attempt to end robberies, drug trafficking and weapons sales.   The high-profile operation was launched in response to a wave of violence linked to an ...
Largest BUENOS AIRES: A trial involving almost 800 cases of human rights abuses during Argentina's 1976-1983 military junta got under way Wednesday, chronicling the use of torture and murder during the dictatorship.   The trial in Buenos Aires, "was, is and will be the largest trial of crimes against humanity" in Argentina, said rights attorney Rodolfo Yanzon.   The trial, on 789 documented abuse cases, is the largest in the South American nation since 2003. It is being held in ...
Brazil expected to keep interest rate flat  BRASILIA: Brazil's central bank was expected to keep its key interest rate unchanged at 7.25 percent later Wednesday, with a faster growth rate on the horizon.   "We expect the central bank to keep its rate at 7.25 percent until mid-2013," said Alex Agostini, chief analyst at the Austin Rating institute.   And some 100 monetary institutions consulted by the Central Bank weekly concurred that the bank's monetary policy committee Copom was likely to keep the rate flat.   The announcement ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln